Driven by strong global demand for chips, South Korea's export data, which has the title of the global economy's “canary”, continued to grow sharply in May, driving the country's international trade balance to the largest surplus level since 2020, and supporting the Bank of Korea's policymakers' optimistic view that this year's economic expansion was better than expected. Shipments reflecting differences in weekdays increased 9.2% year-on-year, down from 11.3% in April, according to data released by Korea Customs on Saturday. Without adjustments, South Korea's overall export data for May increased by 11.7%, while total imports fell by 2%.